FIG Top 5 At 5 - 08/05/2025

1. Governor of the Central Bank Delivers Speech on geoeconomic fragmentation

On 30 April 2025, Governor of the Central Bank of Ireland ("Central Bank"), Gabriel Makhlouf, delivered a speech ("Speech") at a Dublin Chamber event. The theme of the Speech centred around recent global developments and their potential impact on the economic outlook, followed by a consideration as to how Ireland and Europe should respond in an economic sense.

The Governor noted the high volume of announcements and policy changes, including the imposition, removal and pausing of tariffs, emanating from the US Administration. He further noted the increase in policy uncertainty and the challenges to the multilateral institutional framework that "has underpinned global economic relationships for much of the last 80 years."